SunOpta (NASDAQ:STKL) Shares Gap Up to $5.65

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) gapped up before the market opened on Thursday . The stock had previously closed at $5.65, but opened at $6.87. SunOpta shares last traded at $6.29, with a volume of 686,839 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on STKL shares. Canaccord Genuity Group lifted their price target on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. BMO Capital Markets upped their price objective on shares of SunOpta from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, DA Davidson raised their price objective on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

SunOpta Stock Performance

The stock has a market capitalization of $728.89 million, a P/E ratio of -4.11 and a beta of 1.73. The company’s fifty day simple moving average is $6.49 and its 200 day simple moving average is $5.66. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 1.48.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, May 8th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. SunOpta had a positive return on equity of 4.05% and a negative net margin of 22.85%. The business had revenue of $182.80 million during the quarter, compared to analysts’ expectations of $168.87 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that SunOpta Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Activity at SunOpta

In other news, CEO Brian W. Kocher acquired 36,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $6.75 per share, for a total transaction of $243,000.00. Following the acquisition, the chief executive officer now owns 36,000 shares of the company’s stock, valued at $243,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Brian W. Kocher acquired 36,000 shares of SunOpta stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $6.75 per share, with a total value of $243,000.00. Following the completion of the purchase, the chief executive officer now owns 36,000 shares of the company’s stock, valued at $243,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joseph Ennen sold 150,000 shares of SunOpta stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the completion of the transaction, the insider now directly owns 1,743,399 shares in the company, valued at $12,012,019.11. The disclosure for this sale can be found here. 6.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SunOpta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Granahan Investment Management LLC raised its position in shares of SunOpta by 1,291.2% in the 4th quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock worth $13,094,000 after purchasing an additional 2,221,718 shares during the last quarter. CastleKnight Management LP bought a new stake in SunOpta in the 4th quarter worth about $8,743,000. Diamond Hill Capital Management Inc. raised its position in SunOpta by 65.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,904,312 shares of the company’s stock worth $13,158,000 after buying an additional 1,546,567 shares during the last quarter. Blair William & Co. IL lifted its stake in SunOpta by 77.0% during the 1st quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock valued at $13,543,000 after acquiring an additional 857,603 shares during the period. Finally, First Dallas Securities Inc. lifted its stake in SunOpta by 1,706.9% during the 3rd quarter. First Dallas Securities Inc. now owns 650,500 shares of the company’s stock valued at $2,192,000 after acquiring an additional 614,500 shares during the period. 85.39% of the stock is owned by hedge funds and other institutional investors.

About SunOpta

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.